Cognizant profit tops estimates on demand from Europe

Cognizant profit tops estimates on demand from Europe

1 of 2. Indian employees at a call centre provide service support to international customers, in Bangalore March 17, 2004.

Credit: Reuters/Sherwin Crasto/Files

By Sayantani Ghosh and Sruthi Ramakrishnan

Thu Feb 7, 2013 8:16pm IST

REUTERS – IT services company Cognizant Technology Solutions Corp’s (CTSH.O) quarterly profit modestly beat estimates, boosted by a jump in demand from Europe after quarters of tepid growth in business from the region.

The company’s shares rose 2 percent to $77.99 in premarket trading.

European companies have been outsourcing more in recent months as instability in the region forces them to restructure and cut costs.